Stocks Edged Up in Early Trading

U.S. stocks were edging higher in early trading on Tuesday as investors awaited a report on consumer confidence. The Dow Jones Industrial Average lately rose 20.78 points to 12,314.78. The S&P 500 Index was up 2.64 points to 1,267.97. The Nasdaq CompositeĀ  gained 5.17 points to 2,623.81.

U.S. home prices fell 1.2% in October to take the 12-month drop to 3.4%, according to the S&P/Case-Shiller 20-city composite home price index released Tuesday.

Retailer Sears Holdings Corp said it plans to close 100-120 Kmart and Sears Full-line stores and expects its adjusted fourth- quarter EBITDA to more than halve from a year ago. The company reported $933 million in adjusted fourth-quarter earnings before interest, taxes, depreciation, and amortization last year.

Cal-Maine Foods Inc’s second-quarter profit rose more than 50 percent helped by strong demand for eggs and higher average selling prices. The egg supplier’s net income rose to $23.3 million, or 97 cents a share, from $15.2 million, or 64 cents a share, last year. Revenue for the 13 weeks ended Nov. 26 rose 24 percent to $290.4 million.

Crude-oil futures nudged higher in East Asian trading hours Tuesday. Crude oil for February delivery rose to $99.78 a barrel in electronic trading on the New York Mercantile Exchange, up from $99.68 a day earlier.

About the Author

has written 15940 stories on this site.

Write a Comment

Gravatars are small images that can show your personality. You can get your gravatar for free today!

You must be logged in to post a comment.

Copyright © 2012 Nine Stocks